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Boeing Stock Nears 200 As New Jets Launches With $30 Billion Pop

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Boeing (BA) launched its 737 Max 10 at the Paris Air Show as expected Monday, saying it has over 240 orders and commitments worth roughly $30 billion.

The largest model in the 737 family can carry up to 230 passengers, 10-15 more than the 737 Max 9, and will have 5% lower seat-mile costs over competing models, according to Boeing. It should enter service in 2020.

The plane features LEAP-1B engines produced by CFM International, a joint venture between General Electric (GE) Aviation and France's Safran Aircraft Engines.

Boeing shares climbed 1.35% to a new high of 199.10 in afternoon trading on the stock market today, rising further above buy zone. GE dipped 0.45%. Airbus (EADSY) rallied 1.6%.

Boeing's Max 10 customers include:

  • Indonesia's Lion Air announced a commitment for 50 737 MAX 10 airplanes valued at approximately $6.24 billion at list prices.

  • Singapore's BOC Aviation Limited ordered 10 valued at $1.25 billion at list prices. The leasing company has another 74 planes from the 737 Max family on order.

  • GE Capital Aviation Services ordered 20, converting 20 of its current Max orders into the larger variant.

  • Tibet Financial Leasing today signed a memorandum of understanding for 20 737 Max planes split between the Max 8 and Max 10 variants. The order is valued at $2.5 billion at list prices.

  • India's SpiceJet signed a memorandum of understanding for 40 737 Max airplanes valued at $4.7 billion at list prices. The order includes 20 737 Max 10 orders and the conversion of 20 Max 8 aircraft to the larger Max 10 variant.

  • China's CDB Aviation Lease Finance signed a memorandum of understanding for 42 737 MAX 8s, 10 737 MAX 10s and eight 787-9 Dreamliners. The total deal is valued at $7.4 billion at list prices.
United Airlines (UAL) is also expected to announce orders for the Max 10 later this week. The Max 10 is widely viewed as a stop gap until Boeing can build a brand-new midrange plane, informally dubbed the "797" by some in the industry, to take back market shares from Airbus' A321neo, which can seat up to 240.

But not everyone wanted the Max 10. Kuwait-based ALAFCO Aviation Lease and Finance Company announced a commitment for 20 737 MAX 8s, valued at $2.2 billion at list prices.

Narrow-body jets took center stage, but there were some widebody orders. Leasing firm AerCap (AER) announced an order for 30 Boeing 787-9 Dreamliners, valued at $81. billion at list prices.

On Sunday, Airbus unveiled its A380plus, which includes new stairways and cabin rest area and a new wingtip design to reduce fuel consumption by up to 4%.
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